DUBLIN–(BUSINESS WIRE)–The “Global Ultra-Low Temperature Freezers Market Report 2022, by Type, by Application, by End-user” report has been added to ResearchAndMarkets.com’s offering.
The global ultra-low temperature freezers market is expected to grow from $805.47 million in 2021 to $851.35 million in 2022 at a compound annual growth rate (CAGR) of 5.7%. The market is expected to reach $1,064.02 million in 2026 at a CAGR of 5.7%.
North America was the largest region in the ultra-low temperature freezers market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The COVID-19 outbreak is propelling the growth of the ultra-low temperature freezer market in the coming years. Scientists are trying hard to create a vaccine and depending on ultra-low temperature freezers and incubators to retain novel coronavirus samples so that they can be recovered whenever appropriate and examined to gain insight into this emerging respiratory illness.
For example, the BINDER CO2 freezer is helping researchers and scientists to retain coronavirus samples. These freezers are important because they provide protection and anti-contamination features. Therefore, the COVID-19 outbreak contributed to the growth of the ultra-low temperature freezer market.
The high costs associated with ultra-low temperature (ULT) freezers are expected to hinder the growth of the ultra-low temperature freezers market in the coming years. Ultra-low temperature (ULT) sample storage freezers are a central component of a majority of labs, biobanks, and pharmacies around the world.
These units allow the medium to the long-term preservation of numerous biological samples, such as cell extracts, proteins, RNA, or DNA. A fixed temperature of -20 C or -40 C can be sustained by a regular upright mechanical freezer, but the majority would operate at -80 C. To maintain a lower temperature, a stable power source is required that leads to additional energy and operating costs.
An upright, mechanical ULT freezer can fluctuate in average operating expenses from $750 to $1000 per year. Therefore, the high costs associated with ultra-low temperature (ULT) freezers incurs huge operational costs that are difficult for small and medium enterprises and hampers the growth of the ultra-low temperature freezers market.
Major companies operating in the ultra-low temperature freezers sector are focusing on developing technology advanced solutions for ultra-low temperature freezers. For example, in May 2020, Thermo Fisher Scientific, a US-based biotechnology company, launched a new service that gathers and tracks key performance data from the attached TSX Series ULT freezers to provide an optimum sample and product safety. The Thermo Scientific smart connected systems function tracks 37 types of alarms and 26 operational parameters for the user to provide a detailed analysis of the linked TSX Series ULT freezers.
In June 2019, PHC Holdings Corporation, a Japan-based healthcare company acquired the anatomical pathology business of Thermo Fisher Scientific for $1.14 billion. The anatomical pathology business acquired by PHC Holdings Corporation will operate as a new stand-alone company under the name Epredia. The new company will continue to provide comprehensive solutions in the anatomical pathology field, including microscope slides, consumables, instruments. Thermo Fisher Scientific is a US-based biotechnology company engaged in manufacturing and selling ultra-low temperature freezers market.
The ultra-low temperature freezers market consists of sales of ultra-low temperature freezers by entities (organizations, sole traders, and partnerships) that manufacture ultra-low temperature freezers. Ultra-low temperature freezers are a form of a freezer that can keep temperatures between-80 and-86 degrees Celsius. An ultra-low temperature freezer is also known as a minus 80 freezer or a negative 80 freezer. Only goods and services traded between entities or sold to end consumers are included.
The main types of ultra-low temperature freezers are chest freezers and upright freezers. A chest freezer is a cabinet freezer with a door that lifts up to open. The freezers are used for blood and blood products, organs, pharmaceuticals, forensic, genomic research applications by bio-banks, pharmaceutical and biotechnology companies, academic and research laboratories and other end-users.
Major players in the ultra-low temperature freezers market are
- Arctiko
- Eppendorf
- Esco Micro Pte Ltd.
- Haier
- Helmer Scientific
- Bionics Scientific Technologies (P). Ltd.
- PHC Holdings Corporation
- Labcold Ltd.
- Remi Group
- Stirling Ultracold
- Binder
- VWR International
- Global Coolin Inc.
Key Topics Covered:
1. Executive Summary
2. Ultra-Low Temperature Freezers Market Characteristics
3. Ultra-Low Temperature Freezers Market Trends And Strategies
4. Impact Of COVID-19 On Ultra-Low Temperature Freezers
5. Ultra-Low Temperature Freezers Market Size And Growth
5.1. Global Ultra-Low Temperature Freezers Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Ultra-Low Temperature Freezers Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Ultra-Low Temperature Freezers Market Segmentation
6.1. Global Ultra-Low Temperature Freezers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Chest Freezers
- Upright Freezers
6.2. Global Ultra-Low Temperature Freezers Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Blood & Blood Products
- Organs
- Pharmaceuticals
- Forensic
- Genomic Research
6.3. Global Ultra-Low Temperature Freezers Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Bio-Banks
- Pharmaceutical and Biotechnology Companies
- Academic and Research Laboratories
- Others
7. Ultra-Low Temperature Freezers Market Regional And Country Analysis
7.1. Global Ultra-Low Temperature Freezers Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Ultra-Low Temperature Freezers Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/a8tiii
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